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TSX Today: What to Watch for in Stocks on Wednesday, April 1

Alex Smith

Alex Smith

3 hours ago

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TSX Today: What to Watch for in Stocks on Wednesday, April 1

Canadian equities jumped sharply on Tuesday after U.S. president Donald Trump suggested American forces could begin leaving Iran within the next few weeks, raising hopes that the conflict may be entering a less intense phase. The S&P/TSX Composite Index rallied by 833 points, or 2.6%, to settle at 32,768 — marking the market benchmark’s best single-day percentage gain in over 11 months.

Trump’s remarks helped cool oil prices from their recent peaks, easing some of the inflation and supply-shock concerns that had weighed on investor sentiment in recent sessions. As a result, nearly all key market sectors ended the session in the green, with mining, financials, and technology stocks leading the broad-based rally as improving risk appetite encouraged investors to re-enter equities.

Top TSX Composite movers and active stocks

Curaleaf Holdings (TSX:CURA) surged by nearly 14% to $3 per share, making it the top-performing TSX stock for the day. This rally in CURA stock came after the cannabis firm announced the opening of a new Curaleaf-branded dispensary in Lorain, Ohio, expanding its retail footprint to 164 locations nationwide.

The new store strengthens Curaleaf’s presence in Ohio, where it now operates multiple locations and continues to target growth in both medical and adult-use markets. The company also noted it has the option to acquire ownership of the new dispensary in the future, subject to regulatory approvals. Investors seemed encouraged by the continued retail expansion and growth momentum.

G Mining Ventures, Americas Gold and Silver, and NovaGold Resources were also among the day’s top gainers on the Toronto Stock Exchange, as they climbed by at least 12% each.

In contrast, Methanex, Advantage Energy, Tourmaline Oil, and South Bow plunged by at least 3% each, making them the day’s worst-performing TSX stocks.

Based on their daily trade volume, TC Energy, Canadian Natural Resources, Baytex Energy, Whitecap Resources, and Cenovus Energy were the five most active stocks on the exchange.

TSX today

Crude oil prices continued to decline in early morning trading on Wednesday, while gold prices trended higher. Given these mixed commodity signals, the TSX could see a more balanced start to the session today, with strength in mining stocks potentially offsetting weakness in energy stocks.

While no major domestic economic releases are due, Canadian investors may want to keep an eye on the latest retail sales, non-farm employment, and manufacturing data from the United States this morning. Later in the evening, Trump’s anticipated national address on the Iran conflict will be closely watched by global markets for clarity on the timeline of a potential U.S. exit and its implications for energy supply dynamics.

Overall, market movers on the TSX today could be driven largely by commodity price swings, U.S. economic data, and geopolitical headlines.

Market movers on the TSX today

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